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FAQs

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1

What Is An Insolvency Practitioner?


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An Insolvency Practitioner (IP) is a trained insolvency specialist who has a licence to practice in this field. This means they have the relevant exam…

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2

Can My Business Be Saved?


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In this tough economy, many small business owners find themselves on the brink of throwing in the towel; but how do you know when it’s…

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3

What Is Administration?


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Administration should achieve one of three statutory objectives. These are: 1) Rescue the company as a going concern. 2) If the above is not possible,…

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4

What Is A CVA?


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A Company Voluntary Arrangement (CVA) is a legally binding document where you agree to pay back your creditors over a period of time. It is…

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5

What Is Refinancing?


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Refinancing is something a director and company owner does as a matter of course during the life of their business. This could involve meeting with…

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6

What Is A Shadow Director?


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In many circumstances, the law applies not only to a director of a business, but also to a shadow director. A shadow director is a…

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7

Is My Business Insolvent?


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The Insolvency Act lays down a few simple insolvency tests, two of which stand out: Balance sheet test – Are your assets less than your liabilities? If…

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8

Can I Be Held Personally Liable For My Company’s Debts?


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There are circumstances where directors of companies in financial trouble can be held personally liable for debts incurred by the company.  The main area of…

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9

Can I Buy The Business Back?


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One common concern for anyone who is an owner of a business whether they can buy their business back after the liquidation or administration process? The answer…

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10

What Are My Liabilities As A Director?


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As a director of a limited company, the law says you must: Try to make the company a success, using your skills, experience and judgment…

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11

I’ve Received A Winding Up Petition – What Should I Do?


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A winding up petition is by far the most serious action that can be taken against your company. Often it arises because a creditor feels that they…

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12

What Are My Responsibilities As A Director?


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As a director of a limited company, you have certain legal obligations and responsibilities – these include: Try to make the company a success, using…

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13

Will A Pre-pack Help To Save My Business?


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A pre-packaged sale (hence the term, ‘pre-pack’) refers to an arrangement under which the sale of all or part of a company’s business or assets…

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14

What Is A Pre-pack Administration?


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A pre-packaged sale (hence the term ‘pre-pack’) refers to an arrangement under which the sale of all or part of a company’s business or assets…

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15

What Happens When a Company Goes Into Administration?


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The thought of having to go in to administration can be embarrassing and a little intimidating for many company owners. But it needn’t be. That’s…

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16

What Is Company Administration?


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Administration can be an intimidating process for many company directors, however it is a great tool for recovering a business when used properly. Entering into…

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Can Your Business Be Saved? What To Do When Your Business Is Facing Liquidation

If your business is in trouble - if you are facing creditor debts, HMRC debts, or struggling to meet payroll, then you could be facing liquidation. Can your business be saved? Download our free guide, 'What To Do When You Are Facing Liquidation' now.

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